The Top Six Banks To Open Your Accounts in Thailand

Thailand’s local economy is thriving, and it is a rapidly expanding market. There are contemporary legal and financial systems, which makes it an excellent place for businesses and entrepreneurs looking to grow.

The Bank of Thailand oversees Thailand’s financial system. The nation’s central bank oversees two categories of financial institutions: non-depository corporations and depository corporations.

Here is the ideal location to create a corporate bank account in Thailand.

The best banks in Thailand that provide corporate banking services will be discussed in this article.

Bangkok Bank

Bangkok Bank has US $78 billion in assets, making it the largest bank in Thailand. It is undoubtedly among Thailand’s top banks with such a resource.

With 1,238 domestic branches, 9,211 ATMs, and 26 foreign branches spread over 14 countries, the bank is the largest Thai bank with the largest network of foreign branches.

Having established on October 8, 1999, the bank is a publicly listed company and is ranked in the top five on the Thai Stock Exchange by size.

The bank, one of the largest banks in Southeast Asia, led the way in business finance in Thailand.

Bangkok Bank leads the retail banking sector with about 17 million client accounts.

Kasikorn Bank

Kasikorn is the country’s fourth-largest commercial bank by total assets, loans, and deposits. They offer business, commercial, and consumer banking services.

In Thailand, there are 819 branches; Total assets amount to Bt4,238 billion (USD124.3 billion); Has more than 18,000 employees.

Kasikorn Bank was founded in 1945, after the end of World War II.

In line with the Thai populace, the bank concentrated on assisting farmers. It was referred to as Thai Farmers Bank back then.

Kasikorn expanded along with the nation’s economy.

Kasikorn’s “Reengineering Policy” allowed the company to survive and eventually prosper again after the fast development of the 1980s and 90s caused the economic catastrophe of 1997.

This bank was among the first in the world to provide safe mobile phone payments in 1973 and one of the first to offer credit cards.

Krungthai Bank

Offers a comprehensive variety of personal and business banking services and goods, such as credit cards, deposit services, loan and mortgage products, and other services;

Total assets of Bt3,565 billion; there are over 1,000 branches in Thailand.

Krungthai Bank was founded in 1966. The first state-owned company to float on the Thai Stock Exchange was this one in 1989.

KTB gets referred to as “The Convenience Bank” since it serves rural communities, which sometimes have limited banking alternatives, and has the number domestic branches of any bank in Thailand.

The bank has branches everywhere, including in Singapore, Vietnam, India, Myanmar, Cambodia, Laos, China, and the United Kingdom.

Siam Commercial Bank

They offer all kinds of financial services, such as personal and business loans, retail and wholesale banking, cash management, credit and charge card services, foreign exchange operations, international trade finance, and investment banking;

Approximately 1,000 branches exist in Thailand. Total assets worth Bt3,371 billion; It employs around 30,000 people.

Siam Commercial Bank, or SCB, was one of the best banks in Thailand to get registered as a public corporation in 1993.

In 1907, the Royal Charter established it. SCB is well-known for concentrating on sectors including leasing, real estate, and insurance, although its impact goes well beyond those sectors.

SCB supplied the initial ATMs in Thailand. The year 1983 was great!

Recently, SCB implemented a new strategy plan in response to the financial services industry’s fast transformation due to the rise of digital technologies, shifting regulations, and evolving customer behavior.

CIMB

CIMB, a well-known Malaysian bank group and one of ASEAN’s most extensive-gets noted allows visitors to create bank accounts using only a tourist visa. You may also use their effective online banking services by opening a bank account with a simple 1,000 THB deposit.

Furthermore, their excellent interest rates on savings accounts make them a strong candidate for individuals wishing to increase their funds while in Thailand. They provide complete banking options to both households and companies around the country. It is the tenth-biggest bank in Thailand based on assets. A range of services includes commercial banking, insurance products, investment banking, consumer banking, and Islamic banking.

TTB Bank (TMB)

Offers a complete variety of corporate and private banking services and goods, such as credit cards, loan and mortgage products, deposit services, and other services;

A total of Bt3,565 billion in assets; there are around 603 branches in Thailand; It has over 15,000 workers.

After seizing power in a coup in 1957, Sarit Tanarat, a Field Marshal in the Thai Army, founded TMB Bank.

During these chaotic times, Sarit was infamous for attempting to change the kingdom using dubious means, such as wielding an ax to destroy an opium den. His efforts were successful in reviving and modernizing the economy, which was his obsession.

Thailand’s GDP increased by 8% annually, and the nation’s impoverished regions started to receive aid. After becoming a commercial bank in 1973, TMB Bank kept up its good work.

It was the first bank in Thailand to win the title of Best Managed Bank in the Asia Pacific area in 2015.

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